Orby AI raised $30 million to use generative AI to automate the most tedious work tasks.

Applications of AI

Don't miss leaders from OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One, only at VentureBeat Transform 2024. Gain key insights about GenAI and grow your network at this exclusive three-day event. Learn more


Orby AI, a startup building a generative AI platform that automates repetitive and tedious enterprise tasks, today announced it has raised $30 million in a Series A funding round. The company also unveiled new “large-scale action model” technology that enables AI agents to learn and automate complex business processes.

“We're raising Series A, we're raising $30 million,” Orby AI co-founder and CEO Bella Liu said in an interview with VentureBeat. “In tandem with that, we're also announcing our large-scale platform technology, which we call 'large-scale action models.' Imagine that: it's like a GPT-type model, but at a very large scale. The input is all the actions that the model observes, and the output is code that you can use to automate work.”

Orby AI's generative AI platform aims to differentiate itself from traditional robotic process automation (RPA) solutions. “Traditional solutions are still mostly built on rules. In real-world processes, there are so many different scenarios, especially when the process gets complicated,” Liu explains. “What we're doing is fundamentally different. It uses foundational models and leverages generative AI, so we can automate very complex processes, rather than being based solely on rules.”

Generative Process Automation: The New Frontier of AI-Powered Productivity

The company coined the term “generative process automation” to describe its new paradigm: Orby AI's platform uses multimodal inputs like screenshots, clicks, and keystrokes to train large-scale action models. The AI ​​then generates scripts and code to automate workflows, while still involving human workers for feedback and handling edge cases.


Countdown to VB Transform 2024

Join enterprise leaders at our flagship AI event in San Francisco July 9-11. Network with your peers, explore the opportunities and challenges of generative AI, and learn how to integrate AI applications in your industry. Register now


Liu shared a customer case where a Fortune 500 auditor used Orby AI to audit millions of employee expense receipts, an audit that typically takes 10 to 15 minutes per receipt. “All the auditor has to do is install Orby and show them how to do it. After one iteration, Orby is already using code to create the workflow behind the scenes. If Orby isn't sure about a highly complex case, a pop-up window will appear and ask for feedback from the human auditor.”

Investors are betting big on Orby AI's vision for bringing generative AI to the enterprise

The Series A funding will be used for continued product development and go-to-market expansion. Orby AI is currently focused on serving large enterprise clients in industries including technology, insurance, consumer goods and real estate. The company sees the most adoption in back-office functions such as finance, accounting, human resources and operations.

As generative AI continues to evolve, solutions like Orby AI have the potential to dramatically improve the efficiency and productivity of data-intensive enterprise workflows. By combining the power of large-scale language models with well-founded, multi-modal input and human feedback, Orby's approach signals a future where AI works closely with human workers to automate complex knowledge work.

But as with any automation technology, companies need to carefully manage the transition and its potential impact on jobs and roles. “I actually think this will create more jobs,” Liu says. “When you automate jobs, it actually increases the value of humans, because they have more power… they can do more.”

The new $30 million funding shows that investors are bullish on enterprise applications of generative AI, and Orby's approach in particular. As more businesses look to leverage the technology, Orby AI aims to establish itself as a leader in AI-powered enterprise process automation.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *